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Eversheds Sutherland advises Owens & Minor on its sale of Movianto
Eversheds Sutherland has advised longstanding client Owens & Minor on the sale of its European logistics business, Movianto, to EHDH Holding Group (EHDH), one of Europe’s leading providers of healthcare logistics.
Owens & Minor, Inc. (NYSE: OMI) is a global healthcare solutions company with integrated technologies, products, and services aligned to deliver significant and sustained value for healthcare providers and manufacturers across the continuum of care.
In January, it announced its intention to sell the European logistics business, with $133 million in proceeds from the sale to be used to further reduce company debt.
The Eversheds Sutherland team was led by Co-Head of Global Corporate and M&A, Partner Richard Moulton and comprised: Partners Elizabeth Graves, Wijnand Blom (both employment), Catherine Detalle and Elmer Veenman (both corporate), Legal Director and Head of Legal Project Management, Wyn Jones, Principal Associates Lee Harris (corporate), and Edward Tompkin (commercial), and Associates Vijesh Parmar (corporate), Carlo Van Haasteren (employment), and Sara Patel (commercial regulatory).
The global law firm provided advice on all aspects of the deal including corporate, commercial, employment and employee consultation requirements as well as a multi-jurisdictional pre-sale reorganisation, coordinated by Wyn Jones.
Elizabeth Graves, Co-Head of Eversheds Sutherland’s Life Sciences and Healthcare Sector and Client Partner to Owens & Minor, said:
“This is another strategic transaction for Owens & Minor, one that will enable the business to remain focussed and competitive within its relevant markets. We’ve thoroughly enjoyed supporting the Owens & Minor team on this deal, drawing on our knowledge of the business and technical capability to deliver the very best outcome.”
Jonathan Piques, Senior Director, Strategy at Owens & Minor said:
“The Eversheds Sutherland team were indispensable partners at every stage of this complex, cross-border, carve-out transaction. With their support, we were able to navigate to a successful outcome under a tight deadline, despite facing one of the most uniquely challenging deal environments we have ever seen due to the global pandemic.”
Eversheds Sutherland has acted for Owens & Minor on several significant transactions including its acquisition of the Halyard Healthcare Surgical Infection and Prevention business in 2018.
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